Shares of Future FinTech Group Inc. (NASDAQ: FTFT) rocketed during the pre-market trading session of Friday. The robust performance of the firm highlighted the positive sentiments of its investors. The reason which has excited the stock of Future Fintech is that the firm has disclosed that China Copyright Protection Center (CCPC) has approved the request for ten software copyrights about the blockchain technology of the firm.
FTFT has requested the evaluation in June 2020 and received the authorization on December 31, 2020. This is the greatest achievement of the firm as it is endeavoring to optimize the anti-counterfeiting and tracking system using the blockchain technology for its blockchain-based e-commerce platform Chain Cloud Mall (CCM). For this purpose, FTFT has made the 10-software using the blockchain technology for which it has applied for copyrights.
Shares of Future Fintech Group Inc. (NASDAQ: FTFT) rocketed 242.26% during the trading session of Thursday. Its share has traded up 41.74% during the pre-market trading session of Friday. In the past 52-weeks of trading, this firm's share went from a low point around $0.50 to briefly over $3.74. Its shares moved up 1049.77% and 53.74% from its 52-weeks low and its 52-weeks high, respectively.
Looking at its profitability, it has a return on assets, and investment of 484.20% and 14.20% respectively. Its Gross Margin is 78.40%. Turning our focus on its liquidity, it has a current ratio of 1.50 and a quick ratio is also the same as the current ratio. Future Fintech’s market cap has remained high, hitting $273.41 million at the time of writing.
FTFT has disclosed that the new system would not only delivers distinctive anti-counterfeiting QR codes to track the products and guarantee their legitimacy but also offers anti-forgery points to customers. If users manage to get the reward points, they will be able to collect rebates and other advantages. Eventually, users will be able to understand that there is no bogus in the CCM.